Document title: Underwriting Auction for Sale of Government Securities for ₹28,000 crore on September 18, 2026
Issuing authority: Government of India
Reference number: Press Release: 2026-2027/1131
Date: Not specified
Capital markets and flows
The Government of India announced the re‑issue of ₹28,000 crore of government securities through an underwriting auction scheduled for 18 September 2026. Two securities are being offered: a 7.06% Government Security maturing in 2041 with a notified amount of ₹17,000 crore, and a 7.43% Government Security maturing in 2076 with a notified amount of ₹11,000 crore. The underwriting auction will be conducted using a multiple price‑based method. Primary dealers (PDs) are required to submit their bids for the Additional Competitive Underwriting (ACU) auction electronically via the Reserve Bank of India's Core Banking Solution (e‑Kuber system) between 09:00 A.M. and 09:30 A.M. on the day of the underwriting auction.
Regulatory and policy measures
Under the underwriting commitment scheme notified on 14 November 2007, each primary dealer has a Minimum Underwriting Commitment (MUC) and a minimum bidding commitment under the ACU auction. For the 7.06% GS 2041, the MUC per PD is ₹405 crore and the minimum ACU bidding commitment per PD is also ₹405 crore. For the 7.43% GS 2076, the MUC per PD is ₹262 crore and the minimum ACU bidding commitment per PD is ₹262 crore. The underwriting commission earned by the primary dealers will be credited to their current accounts with the RBI on the day the securities are issued.
The announcement outlines the scale of the upcoming government securities issuance, the bidding requirements for primary dealers, and the mechanism for crediting underwriting commissions, reflecting the government's continued reliance on the underwriting auction framework to raise fiscal resources.